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Statement I: If You Know a Person's Demand Schedule for Product

Question 24

Multiple Choice

Statement I: If you know a person's demand schedule for product J,you can derive her marginal utility schedule for product J.
Statement II: If Bob buys 10 Sidney Sheldon novels,he is enjoying a consumer surplus.


A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

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